The UK rate of inflation rose to 9.4% in the 12 months to June 2022 (up from 9.1% in May 2022) as prices continue to rise at their...

The race to replace the Prime Minister, Boris Johnson is causing tax uncertainty for small company owners in the interim. In the UK, the...

The Bank of England’s Monetary policy committee has announced interest rates are rising by 0.25% from 1% to 1.25%. Interest rates are now...

Following the introduction of the Health & Social Care Levy from April 2022, employees will pay National Insurance at 13.25% (previously...

The deadline for submitting applications on the Recovery Loan Scheme is Thursday, 30 June 2022. The Recovery Loan Scheme supports access...

The P11D return is required to report any expenses or benefits paid to employees or directors by employers during the tax year. Any...

The HMRC company car advisory fuel rates that apply from 1 June 2022 have been increased reflecting a sharp increase in fuel prices over...

The Chancellor, Rishi Sunak has today announced a number of support measures to help with the rising cost of living. Millions of...

As a result of the increase in the Bank of England base rate to 1% last week, HMRC has now confirmed that it will raise their interest...

The Easter holidays are here. Please note that our office will be closed Easter Monday & Easter Tuesday (18th & 19th April 2022) and...

With effect from 1 April 2022 all VAT registered businesses (regardless of turnover) must keep digital records for VAT purposes and...

Businesses in the construction industry will no longer be able to use red diesel from 1st April 2022 for most purposes.

The Chancellor, Rishi Sunak announced the UK Spring Statement 2022 yesterday, 23 March 2022. Please find attached our summary of the...

A 5% late payment penalty arises on the tax balancing payment and/or Capital gains tax paid late. The trigger date for the first late...

Please find attached our summary of the upcoming changes in regard to UK PAYE.

Similar to last year, whilst there isn’t an extension of the Self Assessment income tax deadline, HMRC announced yesterday that Self...

Our office will be closed from Thursday, 23rd December 2021 and reopening on Tuesday, 4th January 2022. FROM ALL OF US AT FARRELL &...

SSP TEMPORARY CHANGES - The Statutory Sick Pay (SSP) rules have been temporarily amended in Northern Ireland and Great Britain to extend...

The HMRC company car advisory fuel rates that apply from 1 December 2021 have been increased reflecting a sharp increase in fuel prices...

Please find attached our summary regarding the Economic Recovery Innovation Grant scheme.